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A used two-wheeler dealer sells a scooter for Rs.46,000 and makes some loss. If he had sold it for Rs.58,000 his profit would have been double his loss. What was the cost price (in Rs.) of the scooter?

Question

A used two-wheeler dealer sells a scooter for Rs.46,000 and makes some loss. If he had sold it for Rs.58,000 his profit would have been double his loss. What was the cost price (in Rs.) of the scooter?

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Solution

Let's solve this step by step:

Step 1: Let's assume the cost price of the scooter is 'x' Rs.

Step 2: According to the problem, the dealer sells the scooter for Rs.46,000 and incurs a loss. So, the loss is 'x - 46000' Rs.

Step 3: The problem also states that if the dealer sold the scooter for Rs.58,000, his profit would have been double his loss. So, the profit is '58000 - x' Rs.

Step 4: Now, according to the problem, the profit is double the loss. So, we can set up the equation as follows: 58000 - x = 2(x - 46000)

Step 5: Simplify the equation: 58000 - x = 2x - 92000

Step 6: Bring the 'x' terms to one side and the constant terms to the other side: 3x = 58000 + 92000

Step 7: Simplify further: 3x = 150000

Step 8: Solve for 'x': x = 150000 / 3

Step 9: x = 50000

So, the cost price of the scooter was Rs.50,000.

This problem has been solved

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